Investment and Financial Risk Management MSc

Why choose this course?

This course is ideal if you aspire to a career in risk management with a role in managing investment portfolios and evaluating the associated risks.

You will gain a specialist understanding of the role of risk in investment and finance, covering topics including financial modelling, financial risk management, risk financing, financial engineering, and fixed income analysis.

The course has been developed in consultation with professionals at Barclays, RBS Capital Markets, Commerzbank AG, Standard Chartered Bank and NatWest Bank.

You will use industry-standard databases, learning to analyse and explore topics using qualitative and quantitative methods.

This course is suitable for both experienced corporate finance and financial management practitioners who want to add to their skills, and those looking for a career in the area.

Mode Duration Attendance Start date
Full time 1 year 1–4 days per week September 2024
January 2025
Full time 2 years including professional placement 1–4 days per week plus placement year September 2024
January 2025
Main location Kingston Hill

Reasons to choose Kingston University

  • Kingston Business School is one of only 5% of the world's business schools to be accredited by AACSB International.
  • The course offers exemptions from the professional exams of the Association of Corporate Treasurers (ACT). There is also the chance to gain qualifications such as Bloomberg certification, or prepare for the Chartered Financial Analyst (CFA) credential (many aspects are covered by the course).
  • We are one of the few UK universities with a Bloomberg trading room, offering hands-on skills. You may also use Thomson DataStream Advance.
  • This course is taught by research-active staff and provides cutting-edge knowledge regarding the latest developments in the financial investment sector.
  • Free car parking at the Kingston Hill campus is available for students of this course. The campus can also be easily accessed by public transport. Halls accommodation is just a walk away from the classrooms.

About the Department of Accounting, Finance and Informatics

The Department of Accounting, Finance and Informatics delivers high quality degrees in accounting, banking, finance, investment, financial technology, risk management and real estate. Our courses are accredited by professional bodies including ACCA, CIMA, ACT, RICS and ICAEW.

We are located on the doorstep of London - one of the world's largest financial hubs - where our partnerships with global organisations give you access to meaningful opportunities. We are one of only a few UK universities to have a Bloomberg Trading Room.

Kingston Business School Accreditations

Kingston Business School holds the prestigious international accreditation by the AACSB (Association to Advance Collegiate Schools of Business) in recognition of the excellence of its business education. This accreditation has been earned by just 5% of the world's business schools and recognises the high quality and standard of our business degree offerings.

AACSB Accredited logo


This course is accredited by the Association of Corporate Treasurers (ACT).

This course is accredited by the Association of Corporate Treasurers (ACT).

This course is accredited by the Association of Corporate Treasurers (ACT).

Upon completion of module Risk Financing (BA7101) you will gain exemptions from the Certificate in Treasury units; Unit 3: Corporate finance and Unit 5: Risk analysis and management. You would then be required to complete three further units to complete the CertT.

This accreditation is renewed on an annual basis.


Specialist careers support

You will take part in an Assessment Centre Experience, providing the opportunity to experience the pathway to employment with tailored feedback to help develop your employability skills for the world of graduate employment.

  • Develop your understanding of the jobs market, including current trends and opportunities, different recruitment processes and how to identify relevant roles
  • Receive personalised feedback reports to help you to improve and progress
  • Access additional webinars on top tips, employer expectations and best practice
Specialist careers support

At Kingston Business School we lead

What you will study

This course is underpinned by the latest research and best practice. Modules have been developed to provide you with up-to-date and relevant knowledge of accounting, finance and research methods.

Each module develops the skills valued by employers, such as presentation, team work, problem solving and communication skills.

We teach an extremely practical programme using real-life examples, live data and the latest research and theories. You will get the opportunity to create and manage investment portfolios and present the results, learn to use a Bloomberg trading room and industry standard databases, and undertake a research project.

You will examine the key issues in investment banking and trading. You will also learn to apply various different techniques in practice. We will show you how to analyse and explore a number of different topics using a balance of qualitative and quantitative methods.

Year 1: Teaching block 1

Year 1: Teaching block 2

Year 1: Teaching block 3

Year 2 (optional)

Core modules

Risk Financing

15 credits

This module explores the selection, implementation, and monitoring of risk financing techniques – the ways in which an organisation can obtain funds to pay for any critical or accidental losses. This module develops your critical awareness of risk within institutions and in a wider social context. Topics include:

  • framework for risk financing;
  • criteria for risk financing technique selection;
  • insurance and reinsurance;
  • financing property,
  • net income and personnel losses;
  • accounting and income tax aspects of accidental losses;
  • insurance pricing;
  • selection of insurers and their representatives;
  • implementing risk retention-available options including use of affiliated insurers; and
  • risk cost allocation.
Financial Engineering and Fixed Income Analysis

30 credits

This module will provide you with a broad understanding of the nature of derivative securities and how they can be used by banks and other financial institutions.

You will examine the valuation methods available and the mathematics behind derivatives and fixed income securities valuation. You will learn about numerical schemes such as the binomial lattice to value derivative and fixed income securities.

You will then move on to look at market calibration of alternative derivative models to illustrate how such models can be fitted to observed derivative prices.

Financial Modelling and Data Analytics

15 credits

This module provides an underpinning and understanding of the numerical techniques used in the business and finance world to aid strategic decision-making.

You will be equipped with the accounting, mathematical and statistical foundations that are necessary in the areas of accounting and finance and highly valued by employers.

You are encouraged to read articles from academic journals and discuss your findings during the interactive sessions, and you will also be able to make use of the Bloomberg Trading Room to analyse financial data.

Core modules

Portfolio Theory and Investment Banking

30 credits

During this module, you will gain a thorough understanding of modern portfolio theory and its implications for asset pricing, asset management, and investment decisions associated with risk management. The main topics covered include:

  • portfolio diversification;
  • optimal portfolio construction;
  • expected utility theory;
  • capital asset pricing model;
  • arbitrage pricing theory with application;
  • the formulation and implementation of various active and passive investment strategies; and
  • the analysis and management of risks associated with particular strategies.

This module also looks at the different types of investment banks and the strategies they employ. You will cover:

  • investment banks;
  • private equity investment - types and techniques;
  • debt and equity underwriting by investment banks;
  • trading techniques;
  • mergers and acquisitions;
  • securitisation;
  • hedge funds;
  • mutual funds and other funds; and
  • wealth management, and clearance and settlement.

You will construct and manage investment portfolios for a specific period and present the results. You will use the dedicated Bloomberg Trading Room and software packages to develop your practical experience of industry standard systems and use real, live data.

Financial Statement Analysis

15 credits

This module will develop your critical knowledge and understanding of accounting principles and enable you to analyse financial statements and reports using financial ratios and other metrics.

You will learn how undertake an in-depth analysis of firms' strategic capabilities, risk and growth potential, financial and operating performance.

This module is relevant to those who are interested in a career in the corporate or financial services sector. Professionals such as accountants and corporate lawyers can also benefit and enjoy broader career development opportunities through the skills and knowledge that this module offers.

Bank Financial Risk Management

15 credits

The module aims to develop a critical awareness of financial risk within financial institutions and in a wider context. It will begin with an analysis of financial institutions, and then build upon this foundation by analysing the measurement of key risks to which financial institutions are exposed. This will include a detailed analysis of credit, liquidity, interest rate and market risk.

The module will then consider management issues including: the role of capital; liability and liquidity management and product diversification. It will finish by analysing the banks' utilisation of the financial markets in risk management.

The course has a substantial quantitative component but also provides intuition needed to understand the fundamental mathematics of bank financial risk management. The module will provide candidates with the computer and research skills required by employers in this highly competitive sector.

Core module

Dissertation and Research Methods

60 credits

This module will introduce you to methods and procedures for identifying, investigating and analysing a research problem, and an opportunity to apply these tools in the development of a dissertation. You will be expected to be familiar with the theory and research in your chosen area of study, and to demonstrate your ability to review and apply concepts and techniques critically.

The professional placement year is optional. It takes place after the full time year. It allows students to do a 12-month work placement as part of their course. The work placement is an assessed part of the course and is therefore covered by a Student Route visa.

Find out more about the postgraduate work placement scheme.

Core module

Professional Placement

120 credits

The Professional Placement module is a core module for those students following a masters programme that incorporates an extended professional placement that follows completion of the first 180 credits of taught modules and project or dissertation. It provides students with the opportunity to apply their knowledge and skills in an appropriate working environment, and to develop and enhance key employability skills and subject specific skills in their chosen subject.

It is the responsibility of individual students to locate and secure a suitable placement opportunity; this will normally involve one placement which must be completed over a minimum period of 10 months and within a maximum of 12 months. The placement must be approved by the module leader prior to commencement to ensure its suitability.

What our students say

The relevance and depth of the modules has helped me set a strong foundation for my future career, exposing me to the key areas of investment and risk management. Being so near to the financial capital of the world is always an advantage as well.


Gopakumar, MSc Investment and Financial Risk Management

Kingston Business School: be who you want to be

After you graduate

You will be ready to work in investment banking, trading, and financial consultancy and for paths in investment and portfolio management. Roles include risk manager, risk analyst and investment consultant.

Graduates have gone on to work for Moody's Analytics, Ernst & Young, Nordea, Deutsche Asset & Wealth Management, Protiviti Ltd, Gulf International Bank, Danske Bank, Barclays and Accenture.

Entry requirements

Typical offer

A 2:2 or above honours degree or equivalent in a relevant discipline.

If you do not have an honours degree, you will need to show us evidence that you know enough about the relevant subjects to understand the course materials - for example, a professional qualification, training or work experience in a relevant field (contact the Postgraduate Admissions Team to find out more).

Pre-Masters programme

If you don't meet these entry requirements, our Pre-Masters programme can prepare you for the course.


Please note: most students from countries outside the European Union/European Economic Area and classified as overseas fee paying, are not eligible to apply for part-time courses due to UK student visa regulations. For information on exceptions please visit the UKCISA website or email our CAS and Visa Compliance team.

All non-UK applicants must meet our English language requirement, which is Academic IELTS of 6.5 overall with no element below 6.0. Make sure you read our full guidance about English language requirements, which includes details of other qualifications we consider.

Applicants who do not meet the English language requirements could be eligible to join our pre-sessional English language course.

Applicants from recognised majority-English-speaking countries (MESCs) do not need to meet these requirements.

Country-specific information

You will find more information on country-specific entry requirements in the International section of our website.

Find your country:

Teaching and assessment

Guided independent study (self-managed time)

When not attending timetabled sessions, you will be expected to continue learning independently through self-study. Typically this will involve reading journal articles and books, working on individual and group projects, coursework assignments and presentations, and preparing for exams. Your independent learning is supported by a range of excellent facilities including online resources, the library and CANVAS, the online virtual learning platform.

Support for postgraduate students

As a student at Kingston University, we will make sure you have access to appropriate advice regarding your academic development. You will also be able to use the University's support services

Your workload

Type of learning and teaching

Year 1

  • 18% of your time is spent in timetabled learning and teaching activity

Professional Placement Year

  • 100% of your time is spent on guided independent study (self-managed time) and placement

Contact hours may vary depending on your modules.

Year 1

Professional Placement Year

Year 1
  • Scheduled learning and teaching: 330 hours
  • Guided independent study (self-managed time): 1470 hours
Professional Placement Year
  • Guided independent study (self-managed time): 50 hours
  • Placement: 1150 hours

How you will be assessed

Assessment typically comprises exams (e.g. test or exam), practical (e.g. presentations, performance) and coursework (e.g. essays, reports, self-assessment, portfolios, dissertation). The approximate percentage for how you will be assessed on this course is as follows, though depends to some extent on the optional modules you choose:

Year 1

Professional Placement Year

Year 1
  • Coursework: 90%
  • Exams: 7%
  • Practical: 3%
Professional Placement Year
  • Coursework: 100%

Feedback summary

We aim to provide feedback on assessments within 20 working days.

Class sizes

You will be part of an intimate cohort of students which supports dedicated academic guidance and advice and the opportunity to build a life-long network of colleagues. Some modules are common across other postgraduate programmes therefore you will be taught alongside students who are on these courses within the Business School.

Who teaches this course?

You will be taught by an experienced teaching team whose expertise and knowledge are closely matched to the content of the modules on this course. The team includes senior academics and professional practitioners with industry experience. The following group of staff members are currently involved in the delivery of different elements of this course. This pool is subject to change at any time within the academic year.

Fees for this course

2025/26 fees for this course

Home 2025/26

  • MSc full time £13,500

International 2025/26

  • MSc full time £19,700

2024/25 fees for this course

Home 2024/25

  • MSc full time £12,900

International 2024/25

  • MSc full time £18,900

Fees for the optional placement year

If you choose to take a placement as part of this course, you will be invoiced for the placement fee in Year 2. Find out more about the postgraduate work placement scheme and the costs for the placement year.

Postgraduate loans

If you are a UK student, resident in England and are aged under the age of 60, you will be able to apply for a loan to study for a postgraduate degree. For more information, read the postgraduate loan information on the government's website.

Scholarships and bursaries

Kingston University offers a range of postgraduate scholarships, including:

If you are an international student, find out more about scholarships and bursaries.

We also offer the following discounts for Kingston University alumni:

Additional costs

Depending on the programme of study, there may be extra costs that are not covered by tuition fees which students will need to consider when planning their studies. Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, access to shared IT equipment and other support services. Accommodation and living costs are not included in our fees. 

Where a course has additional expenses, we make every effort to highlight them. These may include optional field trips, materials (e.g. art, design, engineering), security checks such as DBS, uniforms, specialist clothing or professional memberships.


Our libraries are a valuable resource with an extensive collection of books and journals as well as first-class facilities and IT equipment.

Computer equipment

There are open-access networked computers available across the University, plus laptops available to loan. You may find it useful to have your own PC, laptop or tablet which you can use around campus and in halls of residence. Free WiFi is available on each of the campuses. You may wish to purchase your own computer, which can cost from £100 to £3,000 depending on your course requirements.

Photocopying and printing

In the majority of cases written coursework can be submitted online. There may be instances when you will be required to submit work in a printed format. Printing, binding and photocopying costs are not included in your tuition fees, this may cost up to £100 per year.


Travel costs are not included in your tuition fees but we do have a free intersite bus service which links the campuses, Surbiton train station, Kingston upon Thames train station, Norbiton train station and halls of residence.


You will be advised to purchase a specific calculator at a cost of approximately £10-£20.

Course changes and regulations

The information on this page reflects the currently intended course structure and module details. To improve your student experience and the quality of your degree, we may review and change the material information of this course. Course changes explained.

Programme Specifications for the course are published ahead of each academic year.

Regulations governing this course can be found on our website.